Al Battal Factory prices Nomu IPO at SAR 63 apiece

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Balance of payments data set to be released today

Good morning, wonderful people, and a very Merry Christmas to all those who celebrate today. The news cycle is still relatively busy in the last few days of the month, leading with a handful of IPO updates including Al Battal Factory pricing its upcoming Nomu IPO.

PLUS- Don’t miss our roundup of our top picks of Riyadh spots for festive dinners in this morning’s On Your Way Out, below.

HAPPENING TODAY-

IPO WATCH- It’s the final day of Nice One’s retail subscription window, where individual investors will be eligible for 10% of the cosmetic company’s main market IPO. They will be able to book a maximum of 250k shares, and a minimum of 10 shares each at SAR 35 apiece.

REFRESHER- The online beauty retailer is taking a 31.5% stake to Tadawul. Nice One priced its IPO at the top of the range after its institutional offering was 139.4x covered. The final pricing will see it raise SAR 1.2 bn in proceeds, and will give it a market cap of SAR 4 bn at listing.

☀️WEATHER- It’s another sunny day in Riyadh, with a high of 22°C and a low of 11°C. Meanwhile, Dammam is looking at a partially cloudy day with a high of 23°C and a low of 12°C. Over in Makkah — the warmest of three — expect a high of 31°C and a low of 18°C.

UPCOMING NEWS TRIGGERS-

Saudi’s balance of payments stats are slated for release today as per Gastat’s website. The data will cover the trade balance, non-oil exports, merchandise exports, as well as imports. Non-oil exports grew 7.6% y-o-y in 3Q 2024, according to last quarter’s report.
Gastat will release tomorrow its 2023 data on the nonprofit and small and medium enterprises sectors data.
Riyad Bank’s PMI report for December is set to be released on Sunday, 5 January. The Kingdom’s PMI rose to 59.0 in November after posting its strongest performance since July 2023.

PSAs-

#1- Egyptian expats can send money back home through instant transfers: The Central Bank of Egypt launched a new service allowing instant fund transfers to Egypt using the country’s instant money transfer app InstaPay, according to a promotional video (watch, runtime: 1:15). Funds can be sent to bank accounts, bank cards, or e-wallets, with InstaPay recipients receiving instant notifications once the money arrives.

The service is currently accessible through select banks and currency exchange offices in the Kingdom.

#2- The Saudi Food and Drug Authority banned poultry and egg imports from Poland after avian influenza was detected in the Mazowieckie and Warminsko-Mazowieckie provinces, according to Gulf News. The ban applies to all poultry products, except heat-treated items processed under approved methods.

WATCH THIS SPACE-

#1- Majd Pay gets the go-ahead from Sama: Majd Saudi Payments received regulatory approval from the Saudi Central Bank (Sama) to provide payment services through an e-wallet, according to a statement. The fintech outfit provides businesses and individuals with fast, secure, and cost-effective payment solutions to reduce cash transactions.

#2- The Real Estate General Authority issued off-plan sale licenses for residential projects in Riyadh, Al Taif, and Al Khobar, according to separate statements on X (here, here, here, and here). Aknan is offering 146 apartments and townhouses in Riyadh, while Ajdan is offering 284 villas in the capital. Mada Alsharqiah is offering 30 villas in Al Khobar, and Tashyid is offering 84 land plots in Al Taif.

#3- The Najran Region Municipality is tendering 20 investment projects in Sharurah through the Foras online platform, state news agency SPA reports. Projects include setting up and operating agricultural nurseries, commercial stores, a materials and quality lab, fuel stations, and various tourism and entertainment ventures. Interested investors have until 21 January, 2025 to submit their bids.

#4- The Federation of Saudi Chambers is now working to set up the first joint Saudi-Kuwaiti Business Council in a bid to boost economic ties between the two countries, according to state news agency SPA. Trade between Kuwait and the Kingdom amounted to SAR 10 bn in 2023 (SAR 8 bn in Saudi exports and SAR 1.6 mn in Kuwaiti imports).

#5- The Interior Ministry’s Absher Platform now allows users to issue, view, and print vehicle data reports, according to the Saudi Gazette. Users can now log in, request the report under Absher Reports, pay the fee, and print the requested report. Reports can also be verified via a QR code.

DATA POINTS-

#1- The Real Estate Development fund deposited a little over SAR 1 bn in the accounts of Sakani Program beneficiaries in December, bringing the total amount deposited this year to SAR 11.9 bn, according to state news agency SPA. The program is part of a government-run housing initiative that facilitates homeownership for citizens via several financing options, including rent-to-own and mortgage loans.

#2- Tadawul saw its market capitalization drop 0.5% m-o-m in November to USD 2.7 tn, while turnover fell 13.5% to USD 33.8 bn during the month, according to the Arab Monetary Fund’s monthly analysis (pdf).

SPORTS-

National team coach Hervé Renard is confident about the Saudi team’s chances in today’s Gulf Cup showdown with Yemen, Renard said at a presser, according to state news agency SPA reports. Although Renard’s team lost to Bahrain, he remains hopeful about his chances of qualifying for the semi-finals, as well as clinching a shot at the World Cup.

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THE BIG STORY ABROAD-

Two stories are capturing the attention of the international pages this Christmas morning — a Russian cargo ship sinking and a tech glitch delaying hundreds of flights.

A Russian cargo ship sank south of Spain on Monday night after an explosion in the engine room. Two crew members are still missing, while the remaining 14 have been rescued. Russian authorities said the vessel, owned by the Russian Defense Ministry-linked shipping company Oboronlogistika, was en route to another Russian port carrying cranes for port infrastructure. Ukraine claimed the ship was heading to Syria to transport weapons and equipment amid Moscow’s reported military drawdown from the country. (CNN | BBC | Financial Times | The Guardian | Reuters)

MEANWHILE- Some 900 American Airlines US flights were delayed thanks to a tech glitch, disrupting travel for thousands. (CNBC | CNN | Washington Post)

CIRCLE YOUR CALENDAR-

#1- The three-day Future Minerals Forum kicks off on 14 January at Riyadh’s King Abdulaziz International Conference Center.

#2- The three-day Real Estate Future Forum kicks off on 27 January at the Four Seasons, Riyadh.

#3- LEAP 2025 will take place between 9-12 February at the Riyadh Exhibition & Convention Center in Malham. The tech event will bring together over 1.8k global tech brands, 1k experts and some 680 startups. LEAP 2025 will feature over 300 hours of content across 17 tracks, covering AI, fintech, edtech, smart cities, and more. Co-located with LEAP is DeepFest, a major AI-focused event bringing thought leaders and innovators under one roof.

#4- The eight-day Big 5 Construct Saudi will take place from 15-18 February and 24-27 February at the Riyadh Front Exhibition & Conference Center. The Kingdom’s largest construction event will feature over 2k exhibitors from more than 60 countries, showcasing innovations across the sector. The event is expected to attract over 75k participants.

Al Battal Factory prices Nomu IPO at SAR 63 apiece

Homegrown Al Battal Factory for Chemical Industries priced its Nomu IPO at SAR 63 apiece — the top of the range it was guiding on — after its institutional offering was 2.04x oversubscribed, according to a statement to Tadawul. The chemical manufacturer is listing 20.1% stake of its total shares (3.3 mn) post-IPO on Tadawul’s parallel market Nomu.

Proceeds + market cap: The offering price would allow the company to raise up to SAR 42.2 mn in proceeds, while it implies a market cap of SAR 210.1 mn at listing, according to EnterpriseAM calculations. Net proceeds from the sale will be directed toward financing Al Battal’s working capital.

REFRESHER- Some 670k shares — equally split between newly issued and existing stocks — will be up for grabs. The company’s two substantial shareholders will see their ownership diluted to a combined 52% stake post-offering, down from their current 65.1%.

ADVISORS- Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager with Moore serving as the auditor. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, Riyad Capital, ANB Capital, Albilad Capital, Al Rajhi Capital, Derayah Financial, Saudi Fransi Capital, SAB Invest, Alkhabeer Capital, and Sahm Capital.

KEC breaks ground on Madinah Gate project

KEC kickstarts work on phase one of Madinah Gate: The commercial and entertainment hub project will have initial investments worth SAR 600 mn, according to a statement on X. This is a project of the Knowledge Economic City (KEC).

Project profile: The first phase of the mixed-use development will span 22k sqm, state news agency SPA reported last month. Madinah Gate will span some 37k sqm and is set to include a four-star 325-key DoubleTree Hilton hotel, some 80 shops, 44 restaurants, residential apartments, and recreational facilities.

All roads (and rails) will lead there: Prioritizing accessibility, the transit-oriented development (TOD) project will feature a modern bus station, with a transport capacity of 780 people per hour, and direct access to the Haramain High-Speed Railway, which links the city to Makkah.

Who’s in on it: Riyadh Financial Company is investing in the project through a real estate fund, according to SPA. Meanwhile, Saudi Railway Company and KEC are co-developing the project with backing from the city’s authorities, Mubasher reports.

Riyadh’s King Khalid Int’l Airport leads GACA rankings in November!_StoryTags_! General Authority for Civil Aviation (GACA)

King Khalid International Airport in Riyadh maintained the top position in November among international airports handling 15 mn or more passengers annually, marking its fourth month at top spot, according to aviation regulator Gaca’s monthly report. King Abdulaziz International Airport in Jeddah was the runner-up.

The methodology: The aviation regulator assesses 11 factors related to passenger experience, including waiting times for travel procedures, baggage collection, passport and customs controls, accessibility for travelers with limited mobility, and other internationally recognized criteria.

The breakdown:

In the 5-15 mn passenger category, King Fahd International Airport in Dammam tied for first place with Prince Mohammed bin Abdulaziz International Airport in Madinah;
In the 2-5 mn passenger category, both Abha International Airport and King Abdullah bin Abdulaziz Airport in Jizan recorded a 100% compliance rate;
Arar International achieved the highest scores on the criteria among airports with fewer than 2 mn annual passengers;
Qurayyat Airport led the domestic airports category.

Cabinet greenlights amendments to CST regulations

The cabinet yesterday approved amendments to the Communications, Space, and Technology Commission regulations, state news agency SPA reported. Details of the amendments have yet to be disclosed.

The cabinet also approved a handful of other agreements:

Establishing a Saudi-Spanish Coordination Council;
Civil defense cooperation agreements with Tajikistan and Pakistan;
Water resource cooperation with Iraq;
A labor cooperation agreement with the International Labour Organization;
Cultural Cooperation agreement with Kuwait;
Desertification cooperation agreement with China.

The National Housing Company signed SAR 2.6 bn sales contracts for projects in Khayala development

REAL ESTATE-

The National Housing Company signed sales contracts worth SAR 2.6 bn for 82%, or 2.9k units, in Jeddah’s Khayala community, state news agency SPA reports. As part of this development, the Sama Jeddah project saw 806 units sold, the Milaa project saw 745 units sold, and Garden View sold 409 units.

INDUSTRY-

First Mills received board approval to set up a SAR 123 mn flour milling unit in its Al Qassim plant, the company said in a Tadawul disclosure. The new unit, dubbed Mill C, will boost the plant’s wheat milling capacity by 66%, or 600 tons a day, to 1.5k tons a day. Construction on the unit is expected to start in 1Q 2025 and wrap up in 2Q 2026.

ALSO- First Mills upgraded Mill A at its Jeddah plant, boosting its capacity by 250 tons per day, bringing the plant’s total daily capacity to around 3.1k tons, according to another disclosure.

DEBT WATCH-

Moody’s issued its top score, Prime-1 (P1), for Aramco’s short-term issuer rating and a similar one for its USD 10 bn US commercial paper program with a stable outlook, according to its latest assessment. Aramco’s Aa3 long-term issuer rating, Aaa.sa national scale rating, and aa3 baseline credit assessment remain unchanged, reflecting the state-owned oil giant’s solid credit position.

Breaking down the jargon: The rating indicates that Aramco’s liquidity can comfortably cover its debt maturities, capital spending, and dividend payouts over the next 12-18 months, backed by USD 69 bn in liquidity reserves as of September 2024, and USD 180 bn in projected funds from operations through March 2026.

About the program: Aramco’s USD 10 bn commercial paper program allows it to issue short-term debt that must be repaid within 270 days. This helps it better manage its cashflow, by giving it a quick and flexible way to fund the company’s immediate needs.

INFRASTRUCTURE-

The Fundamental Installation for Electric Work (First Fix), the MEP contracting arm of Red Sea International, secured a SAR 318.9 mn contract to provide MEP services for an undisclosed project by Modern Building Leaders over the next 13 months, the parent company said in a filing to Tadawul.

REGIONAL HEADQUARTERS-

Riyadh is now the HQ of the Council of Arab Cybersecurity Ministers: The Arab League’s Council of Arab Cybersecurity Ministers officially picked Riyadh to be its permanent headquarters under an agreement it signed with Saudi Arabia, according to state news agency SPA. The council aims to develop shared policies and strategies to enhance cybersecurity cooperation among Arab countries.

LOGISTICS-

The Saudi Ports Authority (Mawani) added Milaha’s MRX service to Jeddah Islamic Port, it said in a statement. The new shipping service, which has a 2.5k standard container capacity, will link the Jeddah port to the ports of Mundra in India, Jebel Ali in the UAE, Ain Sokhna in Egypt, and Aqaba in Jordan.

BlackRock sees AI, infrastructure investments as big theme for 2025

The investment climate for 2025 is set to reflect a transformative era, driven by “mega forces” like AI, geopolitical fragmentation, and the energy transition reshaping market dynamics, according to BlackRock Investment Institute’s 2025 Market Outlook (pdf). The firm thinks investors should go big on AI and the low-carbon transition, which it sees requiring investment “potentially on par with the Industrial revolution.”

Who’s set to benefit from the transformation? The US, and emerging markets like Saudi Arabia and India, which are at the “crosscurrent” of these mega forces. The firm is overweight US stocks despite premium valuations on the back of strong corporate earnings, and sees the AI theme “broadening out” throughout the year, which will support US stocks.

US Treasuries and government bonds are not as attractive in Blackrock’s view, due to ongoing fiscal pressures and potentially wider budget deficits as a new administration takes office. The firm favors other developed markets like Europe for bonds or UK gilts, and corporate bonds in the US due to healthy balance sheets.

Rates will stay higher for longer: “We don’t think the Fed is embarking on a typical cutting cycle. We think it will cut further in 2025, and growth will cool a little, but with inflation still above target the Fed won’t have room to cut much past 4%, leaving rates well above pre-pandemic levels,” BlackRock said. The Fed is currently expected to make two rate cuts next year, according to the closely watched “dot plot.”

Globally, BlackRock also sees potential in Japan, supported by corporate reforms and a mild inflationary environment, and remains cautious on Europe and China due to structural and geopolitical challenges impacting investor confidence.

Private markets will be key: While public capital markets are set to deepen as the need for more infrastructure investments rises, private markets will also be key for funding early-stage AI projects, BlackRock says. “Private credit will earn lending share as banks retreat – and at attractive returns,” the PE firm added.

MARKETS THIS MORNING-

Asian markets are mixed in early trading, with Japan’s Nikkei and the Topix both down, along with South Korea’s Kospi. China’s CSI 300, on the other hand, is up, along with Hong Kong’s Hang Seng and Shanghai SE. It’s quiet over on Wall Street where markets are closed for Christmas day.

TASI	11,914	-0.3% (YTD: -0.4%)
MSCI Tadawul 30	1,497	-0.2% (YTD: -3.5%)
NomuC	30,920	-0.1% (YTD: +26.1%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	29,973	-0.5% (YTD: +20.4%)
ADX	9,435	+0.4% (YTD: -1.5%)
DFM	5,080	+0.5% (YTD: +25.1%)
S&P 500	6,040	+1.1% (YTD: +26.6%)
FTSE 100	8,137	+0.4% (YTD: +5.2%)
Euro Stoxx 50	4,858	+0.1% (YTD: +7.4%)
Brent crude	USD 73.58	+1.3%
Natural gas (Nymex)	USD 3.95	+7.9%
Gold	USD 2,636	+0.3%
BTC	USD 98,680	+4.9% (YTD: +133.6%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.3% yesterday on turnover of SAR 3.8 bn. The index is down 0.4% YTD.

In the green: Al Baha (+9.1%), Chemical (+4.7%) and Burgerizzr (+4.4%).

In the red: eXtra (-6.8%), MESC (-4.3%) and Amiantit (-3.2%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.1% yesterday on turnover of SAR 50.1 mn. The index is up 26.1% YTD.

In the green: Knowledge Tower (+14.0%), Miral (+9.4%) And Group Five (+7.5%).

In the red: Enma Alrawabi (-12.7%), Neft AlSharq (-7.7%) and Watani Steel (-7.6%)

Your go-to guide for a festive dinner in Riyadh

It’s the most wonderful time of the year, and Riyadh offers a wide range of dining experiences to make your seasonal celebrations truly magical. Whether you’re celebrating Christmas, New Year’s Eve, or just looking to enjoy exceptional culinary delights, the capital has it all. From Italian feasts, to Gatsby-inspired soirees and local treats, here’s your ultimate guide to dining in style this season.

FOR STARTERS, THE CLASSICS-

#1- Fairmont Ramla: Celebrate the festive season at our all-time-favorite Fairmont Riyadh with a vibrant brunch at 365 Restaurant in just a couple of hours. The brunch offers a delightful buffet complemented by lively jazz music. For an elegant evening, House of Grill presents a luxurious New Year’s Eve celebration on Tuesday, 31 December.

Prefer celebrating at home? The Turkey to Go package (serving 6-8 guests) brings a succulent turkey with all the trimmings straight to your table.

Price: SAR 320 for the brunch, SAR 625 for the dinner, and 1.2k for the Turkey to Go package.

#2- Four Seasons’ Obaya Lounge: Another indulgent dining experience awaits at the Obaya Lounge, starting tonight at 6pm. The menu features dishes like smoked salmon tartare with Oscietra Caviar and cream of pumpkin soup with foie gras royale. For the main course, savor roasted US turkey roulade with chestnut and truffle stuffing or pan-seared nagel fish fillet with dill-lemon-butter sauce. End on a sweet note with classic steamed festive plum pudding or a curated cheese platter by Philippe Cailloue.

Price: SAR 380 per person.

FOR THE SEASONED MEAT LOVERS-

#3- Chi Spacca: Created by renowned American chef Nancy Silverstone, Chi Spacca brings its signature charm from Los Angeles to Via Riyadh. The Italian steakhouse’s festive menu includes roast turkey, ribeye steak, and pumpkin pie, alongside lighter options like the Spacca Caesar. The stunning patio makes this steakhouse a top choice for meat lovers this season.

FOR THE CULINARY EXPLORERS-

#4- Gymkhana: Inspired by the elite social clubs of India, Gymkhana — also in Via Riyadh — offers a contemporary twist on Indian dining. Their festive menu features classic dishes like tandoori chicken, butter chicken, Ajwaini fish tikka, and beetroot raj kachori. The rich spices and flavors promise a sensory feast.

#5- Les Deux Magots: Step into Parisian sophistication with Les Deux Magots. Known for its literary legacy, the festive menu includes dishes like confit beef, and rigatoni gratin, creating a fusion of French and international flavors.

FOR THE SEAFOODIES-

#6- Scott’s: Scott’s of Mayfair, one of London’s oldest seafood restaurants, brings its expertise to Via Riyadh. Their festive menu includes lobster bisque, beef wellington, and desserts like clementine crunch bar and pudding soufflé. Seafood enthusiasts are in for a treat.

#7- Sushisamba: Sushisamba Riyadh is hosting a vibrant Sambazonia party celebrating the advent of 2025 at the King Abdullah Financial District. The crowd-favorite sushi place will offer a set menu. featuring its signature Japanese, Brazilian and Peruvian fusion dishes.

Price: SAR 850 per person.

FOR THE FAMILY-

#8- Wildfire: Perfect for families, the brazilian steakhouse Wildfire Crowne Plaza RDC offers a festive dining experience complete with a salad buffet, live turkey station, and dessert buffet. Prefer to stay in? They also offer pre-order turkey delivery for home celebrations.

Price: SAR 299 per person (half price for kids).

CALENDAR

DECEMBER

28 December (Saturday): Deadline for registration in SDAIA’s Injaz Hackathon.

29 December (Sunday): Final allocation for Almoosa Health’s Tadawul IPO.

31 December (Tuesday): Last day for taxpayers to benefit from Zatca’s fines and penalties waiving initiative.

31 December (Tuesday): Engineers in the public sector will be subject to a new pay grade scheme.

1Q: BinDawood Holding expected to close 100% acquisition of Zahrat Al Rawdah Pharma

1Q: Roshn expected to raise SAR 2.6 bn from international bank

JANUARY 2025

1-17 January (Wednesday-Friday): 2025 Dakar, Bisha and Shubaytah.

5 January (Sunday): Launch day for Riyadh Metro line 3.

7-9 January (Tuesday-Thursday) Saudi Tourism Forum, Riyadh Front, Riyadh.

12 January (Sunday): Launch ceremony of the standard incentives for the industrial sector.

13-16 January (Monday-Thursday): Hajj Conference and Exhibition, Superdome, Jeddah.

14-16 January (Tuesday-Thursday): Future Minerals Forum, King Abdulaziz International Conference Center, Riyadh.

15-16 January (Wednesday-Thursday): The International Learning and Technology Conference, Effat University, Jeddah.

21 January (Tuesday): Data Center Nation, Mandarin Oriental Al Fasisaliah, Riyadh.

21-23 January (Tuesday-Thursday): The International Exhibition for Material Handling, Equipment, Warehouse Supplies, Forklifts & Heavy Equipment, Riyadh International Exhibition Center.

21-23 January (Tuesday-Thursday): Saudi International Exhibition for E-Marketing and E-Commerce, Riyadh International Convention and Exhibition Center.

25 January (Saturday): The opening of the 2025Islamic Arts Biennale, Western Hajj Terminal of King Abdulaziz International Airport, Jeddah

27-29 January (Monday-Wednesday): Real Estate Future Forum, Four Seasons Hotel, Riyadh.

27-29 January (Monday-Wednesday): Saudi Franchise Expo, Riyadh International Convention and Exhibition Center.

28-29 January (Tuesday-Wednesday): Federal Open Market Committee meeting.

28-29 January (Tuesday-Wednesday): Sustainability Forum Middle East, Riyadh.

29-30 January (Wednesday-Thursday): Global Labor Market Conference, Riyadh.

31 January (Friday): Deadline for businesses to update their registered customs items.

FEBRUARY 2025

1 February (Saturday): UFC event, The Venue, Riyadh.

3-5 February (Monday-Wednesday): Saudi International Marine Exhibition (SIMEC), Riyadh.

4-5 February (Tuesday-Wednesday): The RLC Global Forum, Riyadh.

4-5 February (Tuesday-Wednesday): Capital Markets & ESG Finance, Hilton Riyadh Hotel & Residences.

6 February (Thursday): Property registration deadline for owners in several districts of seven Qassim cities.

6-8 February (Thursday-Saturday): LIV Golf season opener, Riyadh Golf Club, Riyadh.

8 February (Saturday): Sotheby’s first auction in the Kingdom, Diriyah.

9-12 February (Sunday-Wednesday): LEAP Tech Conference, Malham, Riyadh.

9-12 February (Sunday-Wednesday): DeepFest by Leap, Riyadh.

10-12 February (Monday-Wednesday): Saudi Travel Market, Riyadh International Exhibition Center.

10-13 February (Monday-Thursday): Leap 2025, the Kingdom’s premier tech investment conference.

14-15 February (Friday-Saturday): Formula E, Diriyah.

15-18 February (Saturday-Tuesday): Week one of Big 5 Construct Saudi, Riyadh Front Exhibition & Conference Center.

16-17 February (Sunday-Monday): AlUla Conference for Emerging Market Economies, AlUla.

19 February (Wednesday): Derayah REIT dividend distribution.

19-21 February (Wednesday-Friday): Saudi Media Forum, Riyadh.

22 February (Saturday): Founding Day.

23-27 February (Sunday-Thursday): Riyadh International Disputes Week, Hilton Riyadh Hotel Granada.

24-25 February (Monday-Tuesday): The Riyadh International Humanitarian Forum, Riyadh.

24-27 February (Monday-Thursday): Week two of Big 5 Construct Saudi, Riyadh Front Exhibition & Conference Center.

MARCH 2025

1-30 March: Ramadan.

18-19 March (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

31 March- 3 April (Monday-Thursday): Eid Al Fitr.

APRIL 2025

14-16 April (Monday-Wednesday): Future Hospitality Summit, Mandarin Oriental Al Faisaliah, Riyadh.

21-24 April (Monday-Thursday): Saudi Food Exhibition and Conference, Riyadh.

22-23 April (Tuesday-Wednesday): AAM Middle East, Riyadh.

7-9 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh.

MAY 2025

6-7 May (Tuesday-Wednesday): Federal Open Market Committee meeting.

12-15 May (Monday-Thursday): Saudi Smart Manufacturing, Riyadh International Convention & Exhibition Center.

13-14 May (Tuesday-Wednesday): Global EV & Mobility Technology Forum, The Arena, Riyadh.

23 May (Friday): Guns N’ Roses Show, Riyadh.

31 May-5 June (Saturday-Thursday): Hajj.

JUNE 2025

6-9 June ( Friday-Monday): Eid al-Adha.

17-18 June (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

26 June (Thursday): 2024-2025 academic year ends.

JULY 2025

31 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022/2023 revenues to integrate e-invoicing solutions with Fatoora.

29-30 July (Tuesday-Wednesday): Federal Open Market Committee meeting.

SEPTEMBER 2025

15-17 September (Sunday-Tuesday): Money 20/20 Middle East, Riyadh.

17-18 September (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

23 September (Tuesday): Saudi National Day.

OCTOBER 2025

28-29 October (Tuesday-Wednesday): Federal Open Market Committee meeting.

NOVEMBER 2025

24-26 November (Monday-Wednesday) The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh Front Convention & Exhibition Centre, Riyadh.

DECEMBER 2025

December: The Fortune Global Forum 2025, Riyadh.

9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

2026

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

26-29 October (Monday-Thursday): World Energy Congress, Riyadh.

2027

The World Water Forum takes place in Riyadh.

The Ocean Race finishes in Amaala on the Red Sea.

Riyadh-Kudmi transmission line to be completed.

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